Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 404,473,000, an increase of 16.3% compared to RMB 347,614,000 in the same period of 2021[7] - Gross profit for the same period was RMB 275,329,000, representing a gross margin of 68.1%, up from RMB 225,334,000 in 2021[7] - Profit before tax increased to RMB 183,134,000, a rise of 22.2% from RMB 149,786,000 in the previous year[7] - Net profit for the period was RMB 133,116,000, compared to RMB 111,853,000 in 2021, reflecting a growth of 19.0%[7] - The total comprehensive income for the period was RMB 139,388,000, compared to RMB 109,307,000 in the previous year, showing an increase of 27.5%[139] - Basic and diluted earnings per share rose to RMB 0.33, compared to RMB 0.27 for the same period in 2021, marking a 22.2% increase[137] - The group recorded a profit before tax of approximately RMB 183.1 million for the six months ended June 30, 2022, an increase of about 22.3% compared to RMB 149.8 million in the same period last year[51] Student Enrollment and Programs - The institution offers 71 undergraduate programs and 12 diploma programs, covering various disciplines, and is recognized as a leading private university in the Yangtze River Delta region[11] - The total number of full-time students increased to 22,454 in the 2021/22 academic year, up by 1,116 from the previous year[25] - The number of students admitted to the ordinary specialized upgrade program for the 2022/23 academic year grew by 99% compared to the previous year[27] - The employment rate for the 2021 graduating class reached 98.8%, with 64.6% of graduates remaining employed in Shanghai[22] - The college has 24 undergraduate programs ranked in the top 10 nationally, accounting for approximately 66.7% of all undergraduate programs[18] Financial Position and Cash Flow - As of June 30, 2022, the group's cash and cash equivalents were approximately RMB 168.9 million, a decrease of approximately RMB 319.9 million or 65.5% compared to December 31, 2021, mainly due to capital expenditures and share repurchase costs[57] - The company's cash and cash equivalents decreased to RMB 168,851,000 as of June 30, 2022, from RMB 488,735,000 as of December 31, 2021, a decline of approximately 65.4%[142] - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (214,017,000), compared to RMB (107,016,000) for the same period in 2021, indicating a significant increase in cash outflow[150] - The total liabilities decreased to RMB 1,045,516,000 as of June 30, 2022, down from RMB 1,416,055,000 as of December 31, 2021, indicating a reduction of approximately 26.1%[142] Capital Expenditures and Investments - Capital expenditure for the third phase of campus construction is estimated at approximately RMB 340 million, expected to be completed by the end of 2022[35] - Capital expenditures for the six months ended June 30, 2022, were approximately RMB 59.6 million, primarily related to the construction of the third phase of the campus[62] - The group has authorized but not contracted capital commitments for property, plant, and equipment totaling RMB 80,547 thousand as of June 30, 2022, down from RMB 110,341 thousand at the end of 2021[195] Governance and Compliance - The company has complied with all applicable code provisions of the corporate governance code during the six months ended June 30, 2022[91] - The audit committee has reviewed the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2022, confirming compliance with applicable accounting standards and regulations[93] - The company adopted revised articles of association to comply with updated regulations, effective June 1, 2022[128] Shareholder Information - As of June 30, 2022, Zhao Donghui holds 100,000,000 shares, representing 24.10% of the company's equity[96] - The total number of shares pledged by eight shareholders to Ai Xin Limited is 87,350,000, excluding voting rights and rights to receive benefits[105] - The company has a total of 70,000,000 shares held by Fwin Limited, which is controlled by Zhao Donghui, representing 16.87% of the equity[104] Recognition and Accolades - The institution was ranked third among private universities in China according to the 2022 Alumni Association rankings, maintaining a strong reputation in vocational education[17] - The institution has received multiple accolades, including being recognized as a "National Civilized Unit" and a "Demonstration University for Party Building Work" in China[17] Strategic Initiatives - The company is exploring new business models in education integration, leveraging its unique position as the only private university in the Lingang area[13] - The company aims to enhance its international influence and competitiveness by actively developing international education and vocational training programs[41] - The college aims to enhance its educational quality and increase enrollment numbers as part of its business strategy[34] Taxation and Regulatory Compliance - The company's income tax expense for the six months ended June 30, 2022, was RMB 50,018,000, an increase from RMB 37,933,000 for the same period in 2021, representing a growth of approximately 32.0%[177] - The company is committed to meeting qualification requirements for foreign investment in private education, with specific plans and measures already implemented[118]
建桥教育(01525) - 2022 - 中期财报